US July styrene contract up 1 cent/lb on mixed fundamentals

09 August 2013 17:59  [Source: ICIS news]

HOUSTON (ICIS)--US July styrene contracts have settled at an average increase of 1 cent/lb ($22/tonne, €17/tonne) from the previous month, taking prices to 77.75-81.75 cents/lb, according to market participants on Friday.

The increase comes after initial settlements emerged last week at declines of 1 cent/lb to increases of 2 cents/lb.

The July styrene settlements were expected to come down, following the 35 cent/gal drop in the July benzene contract and a lack of price initiatives from styrene suppliers.

However, contract positions were also under pressure from the rebound in the August benzene contract and continued globally tight supplies.

($1 = €0.75)

By: Brian Balboa
+1 713 525 2653

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